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Global Portable Oxygen Concentrators Market Research Report:

The latest report by IMARC, titled “ PortableOxygenConcentratorsMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityand Forecast2023-2028

”"the globalportableoxygenconcentratorsmarket reachedavalueofUS$1.6Billionin2022.

A portable oxygen concentrator (POC) refers to a device that is widely utilized to provide oxygen therapy to patients who require a higher level of oxygen concentration than ambient air. These medicals devices consist of an alarm indicator,a knob for adjusting the flow rate and an oxygen outlet forthenasalcannula.

They function by separating nitrogen and oxygen from the air in the environment and offering pure oxygen to the patient. These concentrators are compact and lightweight in nature, unlike the traditionally used stationary concentrators. They can often be used to deliver oxygen to the individuals viapulsedoseandcontinuous flowdeliverymodes.

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Global Portable Oxygen Concentrators Market Trends:

The global market is primarily driven by the rising prevalence of respiratory disorders, such as asthma and chronic obstructive pulmonary diseases (COPD). Since POCs can be easily carried conveniently, they are gaining widespread preference across the healthcare sector. This is further being supported by the increasing geriatric population and rapid technological advancements in the miniaturization of the oxygen concentrators. Also, patients already suffering from pulmonary disorders require these medical devices to maintain an adequate concentration of oxygen.

This, coupled with the rising demand for portable oxygen sources from intensive care units (ICUs), is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the launch of POCs with improved battery life and miniaturized membrane technologies, extensive research and development (R&D) activities and the continual developments in the healthcare infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of 8.3% during the forecast period (2023-2028).

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).